10 Year Historical Data					10 Year Historical Data					10 Year Historical Data
	Apple (AAPL)					Microsoft(MSFT)					S&P 500
Date	Adj Close	Month	Return		Date	Adj Close	Month	Return		Date	Adj Close	Month	Return
1/1/2010	$23.94	1	43.40%		1/1/2010	$22.25	1	0.49%		1/1/2010	$1,073.87	1	16.50%
1/1/2011	$42.30	1	25.67%		1/1/2011	$22.36	1	8.51%		1/1/2011	$1,286.12	1	2.00%
1/1/2012	$56.91	1	0.66%		1/1/2012	$24.44	1	-4.62%		1/1/2012	$1,312.41	1	12.40%
1/1/2013	$57.29	1	11.24%		1/1/2013	$23.36	1	29.60%		1/1/2013	$1,498.11	1	15.96%
1/1/2014	$64.55	1	40.22%		1/1/2014	$33.18	1	8.82%		1/1/2014	$1,782.59	1	10.65%
1/1/2015	$107.97	1	-18.35%		1/1/2015	$36.39	1	28.62%		1/1/2015	$1,994.99	1	-2.82%
1/1/2016	$91.23	1	21.53%		1/1/2016	$50.98	1	17.05%		1/1/2016	$1,940.24	1	14.86%
1/1/2017	$116.27	1	28.67%		1/1/2017	$61.46	1	33.45%		1/1/2017	$2,278.87	1	19.30%
1/1/2018	$163.00	1	0.89%		1/1/2018	$92.35	1	10.57%		1/1/2018	$2,823.81	1	-4.43%
1/1/2019	$164.47	1	0.00%		1/1/2019	$103.26	1	0.00%		1/1/2019	$2,704.10	1	0.00%
Average	$88.79		15.39%		Average	$47.00		13.25%		Average	$1,869.51		8.44%
StandardDeviation	48.6772943		19.83%		StandardDeviation	29.884596		13.47%		StandardDeviation	598.59031		8.86%
Correlation	?				Correlation	?				Correlation	1
Beta(b)	?				Beta(b)	?				Beta(b)	1

Imagine you are supposed to create a portfolio using Apple and Microsoft, using $1,000,000. How much do you need to invest in each stock, so that your portfolio risk is:

• equal to market risk.
• equal to half the market risk.
• the lowest possible risk with the two stocks you have.